A £12 million enterprise village aimed at small businesses will be built on the KiNG31 site on the southern edge of Grantham, if approved.
Haywood Estates is seeking permission from the planning authority to build the 4,400 sq m development on land alongside the new bypass road between the A1 to the west and the B1174 Spittlegate Level to the east.
If granted, it will feature 15 units with site preparation work set to begin towards the end of the year and clients ready to build units in spring next year.
It is described as an opportunity for small businesses to build their own commercial premises.
Haywood Estates chief executive Roy Haywood said: “Our approach is different to most developers. We acquire the land and gain planning consent, then develop all of the infrastructure for the Enterprise Village. This includes creating estate access roads and installing all of the mains services – electricity, water, sewerage, land drainage, telecommunications, street lighting, landscaping of the general areas, pedestrian pathways and estate signage.
“We then offer individual freehold commercial building plots for sale within the Enterprise Village, which are suitable for construction of new factories, offices and workshops. This method of development reduces the costs for small businesses, provides a professional and attractive location and makes the whole process less daunting for them.”
Haywood estates specialises in the development of business parks and has completed developments in the Midlands, southern England and Wales.
It said its research has shown that there is a shortage of freehold commercial building land in parts of the East Midlands, available at a size and budget that small businesses can afford. The cost of development, building access roads and installing mains services can often be prohibitive.
The firm estimates the cost of land purchase, site development, infrastructure and mains service installations to come to £2 million, with a further £10 million on construction and the fitting out of premises.
My Haywood added: “Business owners would much prefer to invest in their own land and property, rather than pay rent to a landlord over an extensive period, and be able to design a building that will better suit their current and future operational needs.
“Freehold building plots at the Enterprise Village are likely to cost from about £55,000 for a small plot up to about £190,000 for much larger plots.”
The venture is supported by Lincolnshire County Council.
Councillor Colin Davie, executive councillor for economy and place, said: “We welcome the planned investment by Haywood Estates in new business units for Grantham. Their project is one which we have tracked with interest since we introduced them to Lincolnshire’s investment opportunities some two years ago at [property marketing event] MIPIM.
“We believe that their proposed construction will have significant benefits for the county, not least in that the units are expected to support up to 100 new jobs.”
South Kesteven District Council will decide on the application in due course.
Information: contact Andrew Coupe at Haywood Estates on 07530 908703 or email firstname.lastname@example.org